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IEDA Board Minutes - August 2020

Iowa Economic Development Authority
Telephonic Board Meeting
Meeting Minutes
August 21, 2020 9:15 a.m.

Board Members Present by telephone: Chris Murray Lisa Shimkat Emily Schmitt Pankaj Monga Thomas Townsend Jennifer Cooper Megan McKay Linda Crookham-Hansen

Ex-Officio Members Present by telephone: Senator Jackie Smith David Barker Rob Denson

IEDA Staff Present by telephone: Debi Durham Rita Grimm Rick Peterson Staci Hupp Ballard Vicky Clinkscales Matt Rasmussen Jill Lippincott Kristin Hanks Bents Jessica O’Riley Rob Christensen Betty Hessing Kanan Kappelman Paul Stueckradt Katie Rockey Melissa Harshbarger Terry Roberson Lisa Connell

Others Present by telephone: Brian Crow, Iowa City/Cedar Rapids Regional Development Group Adam Plagge, Economic Devl. Manager, City of Johnston Sue Foecke, Iowa Senate Democrats Nicolas Hockenberry, Jackson County Economic Alliance Sean Callison, Faegre Drinker Biddle & Reath LLP Andrew Anderson, Faegre Drinker Biddle & Reath LLP Ron Robinson, Iowa Legislative Services Agency Brian Sullivan, Iowa Finance Authority

BOARD CHAIR
• Welcome Iowa Economic Development Authority
Board Chair Chris Murray called to order the meeting of the IEDA Board at 9:16 a.m.
• Roll Call and Introductions
A quorum of the IEDA Board was established with the following Board members present: Chris Murray, Megan McKay, Jennifer Cooper, Linda Crookham-Hansen, Emily Schmitt, Pankaj Monga, Thomas Townsend and Lisa Shimkat

Ex-officio members present: David Barker, Rob Denson and Senator Jackie Smith

Approval of Minutes – July 17, 2020 IEDA Meeting
MOTION: Emily Schmitt moved that the IEDA Board approve the minutes of the July 17, 2020 IEDA Board meeting; seconded by Linda Crookham-Hansen. Motion carried unanimously.

Approval of Agenda – August 21, 2020 IEDA Meeting
MOTION: Linda Crookham-Hansen moved that the IEDA Board approve the agenda for the August 21, 2020 IEDA Board meeting; seconded by Lisa Shimkat. Motion carried unanimously.

PUBLIC COMMENT PERIOD: No comments.

COMPLIANCE - CONSENT AGENDA
A. 120 Day Report
B. Compliance Report
3M Company, Inc. – Request for Contract Termination. Aero Technologies, LLC – Request for Contract Termination.
MOTION: Lisa Shimkat moved that the Iowa Economic Development Authority Board accept the recommendations of the DDC regarding Items A and B on the Consent Agenda; seconded by Emily Schmitt. Motion carried unanimously.

FINANCIAL ASSISTANCE APPLICATIONS
General Mills Operations, LLC: Cedar Rapids
MOTION: Jennifer Cooper moved that the Iowa Economic Development Authority Board accept the recommendation of the DDC to award a maximum of $555,000 in Investment Tax Credits; and a maximum of $210,000 in Sales, Service and Use Tax Refund; seconded by Linda Crookham-Hansen. Roll Call vote was taken. Motion carried unanimously.

Sabre Industries, Inc.: Sioux City
MOTION: Jennifer Cooper moved that the Iowa Economic Development Authority Board accept the recommendation of the DDC to award a maximum of $861,531 in Investment Tax Credits and; a maximum of $321,000 in Sales, Service and Use Tax Refund; seconded by Megan McKay. Roll Call vote was taken. Motion carried unanimously.

Emily Schmitt disclosed a conflict of interest that necessitated recusal from consideration of and action on the request for assistance by Mid-States Material Handling and Fabrication. See attached E-mail exchange. She left the meeting at 9:25 a.m.

Mid-States Material Handling and Fabrication: Nevada
MOTION: Linda Crookham-Hansen moved that the Iowa Economic Development Authority Board accept the recommendation of the DDC to award a maximum of $63,390 in Investment Tax Credits and a maximum of $44,625 in Sales, Service and Use Tax Refund; seconded by Jennifer Cooper. Roll Call vote was taken. Motion carried unanimously.

Emily Schmitt rejoined the meeting at 9:29 a.m. Because her name was inadvertently not called when the roll was taken on the Sabre Industries, Inc. motion, when Ms. Schmitt rejoined the meeting, Betty Hessing called for her vote and she voted “yes”.

AMENDMENTS TO RULES
Reinvestment Districts, 261 IAC Chapter 200
MOTION: Lisa Shimkat moved that the Iowa Economic Development Authority Board approve Filing Notice of Intended Action for Amendments to Reinvestment Districts Program Rules, 261 IAC Chapter 200; seconded by Linda Crookham-Hansen. Motion carried unanimously.

ENTREPRENEURIAL INVESTMENT AWARD AMENDMENT
Iowa’s West Coast Initiative – Sioux City
MOTION: Linda Crookham-Hansen moved that the Iowa Economic Development Authority Board approve an amendment to the contract for Iowa’s West Coast Initiative to extend the project through August 31, 2022; seconded by Lisa Shimkat. Motion carried unanimously. 

BROWNFIELD/GRAYFIELD REDEVELOPMENT TAX CREDIT PROGRAM
Contract 18-BTC-02 – ArtTech Village II in New Bo, LLC
MOTION: Emily Schmitt moved that the Iowa Economic Development Authority Board approve amending Contract 18-BTC-02 to extend the project completion period from 30 to 58 months; seconded by Jennifer Cooper. Motion carried unanimously.

Contract 20-BTC-13 – Heather Moore
MOTION: Linda Crookham-Hansen moved that the Iowa Economic Development Authority Board approve assignment of Contract 20-BTC-13 to GT Development, LLC; seconded by Lisa Shimkat. Motion carried unanimously.

INNOVATION FUND INVESTMENT TAX CREDIT PROGRAM
MOTION: Lisa Shimkat moved that the Iowa Economic Development Authority Board approve Applications for Issuance of 4 Tax Credit Certificates; seconded by Linda Crookham-Hansen. Motion carried unanimously.

IEDA CHIEF STRATEGIC COMMUNICATIONS OFFICER STACI HUPP BALLARD MADE A PRESENTATION REGARDING THE IOWANS UNITE CAMPAIGN.

OTHER BUSINESS
The next IEDA Board meeting will be held on Friday, September 18, 2020 at 9:15 a.m.

ADJOURNMENT
There being no further business at the meeting of the Iowa Economic Development Authority Board, MOTION: Linda Crookham-Hansen moved that the IEDA Board adjourn; seconded by Lisa Shimkat. Motion carried unanimously.

Meeting adjourned at 10:13 a.m.

Betty Hessing, Interim Board Administrator Chris Murray, IEDA Board Chair

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